Minister of Finance Ch.Khurelbaatar submitted a bill on approving the financial agreement between Mongolia and the International Development Association (IDA) to Speaker of Parliament G.Zandanshatar on April 2.

The Livestock Commercialization Project for Mongolia will be implemented as a second phase of the Mongolia Livestock and Agricultural Marketing Project, which was implemented in Mongolia from 2013 to 2017 with the non-refundable assistance of the World Bank.

The Livestock Commercialization Project will be implemented in Ulaanbaatar and 250 soums of 14 provinces to increase the competitiveness and productivity of animal husbandry, promote export, develop veterinary structure and upscale the industry.

Within the project, the main objectives were proposed as: reduced prevalence of animal contagious diseases by 25 percent, increase meat and dairy production by 15 percent, increased the value of livestock by 20 percent, and directly reach 20,000 herders.

The project will be funded with IDA’s credit worth 30 million USD through the World Bank. It has a 1.25 percent interest rate and repayment term of 30 years, with a moratorium period of five years.   

Moreover, the minister of finance submitted a draft agreement on additional financing for Ulaanbaatar’s Clean Air project to stimulate reduction of air pollution. The sides discussed to provide additional financing worth 12 million USD at concessional  rates to extend the positive impact of the project.